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Nov 8, 2012
11/12
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on the fiscal cliff before the end of the year, the rating will go down. there's a 50% chance the u.s. will go over that so-called cliff. the good news is their base scenario is there will be an agreement before the ends of the year. that's what we've got so far, guys. back to you. >> all right, mandy. thanks so much. >> 15%. that's not so bad. you're hearing that talk more now since the re-election of the president. a few agencies have come out now and said there's maybe a little higher chance of us going over the fiscal cliff. still, 15%, i'd take those odds. >> there are some people who say, go over the fiscal cliff. some people feel we should because that will sort of spring everybody into action. >> and reduce the deficit that continues to rise. >> exactly. but the issue is that this uncertainty, until we know where tax rates are going to be, why would you make real plans in terms of your budget if you're a large corporation or small corporation, in terms of hiring plans? you have no idea. >> a few companies -- and we may see this more in the coming d
on the fiscal cliff before the end of the year, the rating will go down. there's a 50% chance the u.s. will go over that so-called cliff. the good news is their base scenario is there will be an agreement before the ends of the year. that's what we've got so far, guys. back to you. >> all right, mandy. thanks so much. >> 15%. that's not so bad. you're hearing that talk more now since the re-election of the president. a few agencies have come out now and said there's maybe a little...
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Jan 2, 2013
01/13
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i had no problem how we dealt with the fiscal cliff. i think the tax rates on the wealthy ought to have gone up and did go up. we're doing nothing on the expenditure side. you can take all the money the wealthy people have and still not deal with fiscal problems. we need entitlement reform, we need to basically reduce government expenditures. need we have to resort to back taxes because there's not enough to deal with the problems we have. in the world we are in we have to make distinguishing judgments. i'd rather take my chance in equity than i would in a fixed income instrument at the present time. >> let me turn to a judgment that you recently made on apple, the most valuable company in the world, a stock that's probably the most widely owned stock in the world as well. you sold down the position in apple and you say you prefer qualcomm to apple at this point. first off, why did you lose some faith in apple? >> i didn't lose faith but in nature we pay attention to the market and didn't like the way it was acting, to be honest it was
i had no problem how we dealt with the fiscal cliff. i think the tax rates on the wealthy ought to have gone up and did go up. we're doing nothing on the expenditure side. you can take all the money the wealthy people have and still not deal with fiscal problems. we need entitlement reform, we need to basically reduce government expenditures. need we have to resort to back taxes because there's not enough to deal with the problems we have. in the world we are in we have to make distinguishing...
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Oct 12, 2012
10/12
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i also did ask senator mccain about the looming fiscal cliff, tax rates and how he thinks bernanke has performed so well. you won't want to miss it. giles is still with us and i'm curious having heard that exchange what you think about senator mccain's reaction there p. is he right that the government shouldn't have anything to thank jpmorgan for and the bank has simply benefitted from all the policies since the financial crisis? >> i think he was stressing that as it were that bank along with many others has navigated their way through the crisis and obviously that has had a stability effect on the system overall. i mean, i think the word thanks is a kind of difficult one here, but it's clear that world banking systems if we look at the u.s. now functioning very much better. if you look at the fed survey, they're much more willing to lend than they were, and i think that actually helps the u.s. economy recover here at this very important moment. >> certainly the u.s. continues to be one of the favorite economies when investors look around the world in spite of the fact that perhaps it
i also did ask senator mccain about the looming fiscal cliff, tax rates and how he thinks bernanke has performed so well. you won't want to miss it. giles is still with us and i'm curious having heard that exchange what you think about senator mccain's reaction there p. is he right that the government shouldn't have anything to thank jpmorgan for and the bank has simply benefitted from all the policies since the financial crisis? >> i think he was stressing that as it were that bank along...
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Nov 29, 2012
11/12
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. >> we're ready to protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 of all americans' income. letting the rates go up to the same level they were during the clinton administration. republicans know where we stand. we've said it. we've said it. we've said it so many times. the president said the same thing. it's been weeks, at least two weeks, since we met at the white house. we're still waiting for a serious offer from the republicans. really, now is the time for the republicans to move past this happy talk about revenues, ill-defined, of course, and put specifics on the table. the president has made his proposal. we need a proposal from them. i'm glad to see there are some reasonable republicans breaking from the pack. veteran representative cole and a new member, scott from south carolina, have said basically the same thing. and that is, they should bring to the floor of the house the bill that's passed over here. it would pass overwhelmingly, as scott said in the press today. our bill would pass in a matter of m
. >> we're ready to protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 of all americans' income. letting the rates go up to the same level they were during the clinton administration. republicans know where we stand. we've said it. we've said it. we've said it so many times. the president said the same thing. it's been weeks, at least two weeks, since we met at the white house. we're still waiting for a serious offer...
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Nov 8, 2012
11/12
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if there's a fiscal cliff issue and tax rates go up, cramer called it an ultimate fiscal cliff stock this mitt romneying. do you think it's more about macro cliff concerns than the pop line that jobs left behind? >> i think it's both. i think it's definitely as the largest stock in the world as we get towards the year end and concerns about taxes, increasing and so forth. i think it does make sense that people are going to try to take some of the gains that they have had year to date off the table and there's just chatter about the fundamental operation of the company. now, i'm not one that buys in to any of those fundamental arguments against the company. you know? i take issue with that and the other side of the trade. but, you know, i think it's both weighing on the stock. >> i think it's important for investors out there to understand where you're coming from, eric. that's the cost basis. what's been the cost basis on apple and assuming you bought it a while ago and added to the positions lower than levels right now. would you yourself be inclined to take money off the table to p
if there's a fiscal cliff issue and tax rates go up, cramer called it an ultimate fiscal cliff stock this mitt romneying. do you think it's more about macro cliff concerns than the pop line that jobs left behind? >> i think it's both. i think it's definitely as the largest stock in the world as we get towards the year end and concerns about taxes, increasing and so forth. i think it does make sense that people are going to try to take some of the gains that they have had year to date off...
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Dec 12, 2012
12/12
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. >>> coming up, the fiscal cliff, the dividend tax rate, a power company ceo will tell us about his biggest concern if a deal doesn't get done by the end of the year. >>> also, what the ceo of walmart thinks about that, as well. he had really explosive data. mike duke last night. we'll bring it to you. "squawk box" is coming back. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prosta
. >>> coming up, the fiscal cliff, the dividend tax rate, a power company ceo will tell us about his biggest concern if a deal doesn't get done by the end of the year. >>> also, what the ceo of walmart thinks about that, as well. he had really explosive data. mike duke last night. we'll bring it to you. "squawk box" is coming back. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone...
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Dec 6, 2012
12/12
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>>> still to come we'll dig into the fiscal cliff with caterpillar's ceo. first as we head to break a drawing at sotheby's in london sold for nearly $48 million, nearly double the expected price, it was sold to an unsided buyer. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or more on car insurance. >>> welcome back, everybody. we've been watching the futures, they are mixed, dow slightly higher but you can also see futures are lower for the s&p and the nasdaq. in our headlines apple and samsung are back in court in a high profile patent case. samsung is seeking to overturn an august verdict that found it guilty of infringing patents and ordered it to pay apple $1 billion. ap
>>> still to come we'll dig into the fiscal cliff with caterpillar's ceo. first as we head to break a drawing at sotheby's in london sold for nearly $48 million, nearly double the expected price, it was sold to an unsided buyer. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the...
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Nov 19, 2012
11/12
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is no fiscal cliff agreement. >> yeah. i think it is prudent planning, scott. dividend was due to the paid just two days into 2013. instead they back it up into december. the largest shareholders in walmart are the heirs of sam walton. it is not surprising that they -- have a little input perhaps to the board as far as let's move this into this year so we have certainty about the tax treatment of this very large dividend to those folks. rather than the risk it goes off of fiscal cliff which i don't think we will. >> yes, steph, i walked the heat map a moment ago and mentioned hewlett-packard as one of the tech stocks doing quite well today. will is another look at it. up 2 1/3 percent. company will announce the results before the bell tomorrow. >> i think the earnings will probably either meet or maybe even beat because of cost controls. revenues will be light. scott, 50% of their revenues are pcs and printers we know pcs are just under enormous pressure. and printers are also under a lot of competitive intensity. i would
is no fiscal cliff agreement. >> yeah. i think it is prudent planning, scott. dividend was due to the paid just two days into 2013. instead they back it up into december. the largest shareholders in walmart are the heirs of sam walton. it is not surprising that they -- have a little input perhaps to the board as far as let's move this into this year so we have certainty about the tax treatment of this very large dividend to those folks. rather than the risk it goes off of fiscal cliff...
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Jun 19, 2012
06/12
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take with us, the fiscal cliff which includes tax cut, balancing the budget, the keystone pipeline, all stalled. congress is nowhere near what they've accomplished in past years, past congresses. in fact, it's no wonder that gallup's latest congressional approval rating stand at an unimpressive 17%. that is up, in fact, though, from the all-time low of 10%, which was hit just back in february. bertha combs has been look into the numbers and joins us now. it's evening, have i got that right? >> it is, evening, joe. uh you're wide awake. normally you're sleeping at this time. harry truman may have been the one that coined the phrase do-nothing congress, but the current congress, the 112th has that group beat by a mile. after republicans swept the house with a promise of snauler government, well, congress has delivered on that promise at least when it comes to legislation last year. now, according to the congressional record, the senate and house were in session for about 170 days a piece in the first session of the 112th congress. and they passed 90 laws. compare that to the 110th congres
take with us, the fiscal cliff which includes tax cut, balancing the budget, the keystone pipeline, all stalled. congress is nowhere near what they've accomplished in past years, past congresses. in fact, it's no wonder that gallup's latest congressional approval rating stand at an unimpressive 17%. that is up, in fact, though, from the all-time low of 10%, which was hit just back in february. bertha combs has been look into the numbers and joins us now. it's evening, have i got that right?...
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Oct 3, 2012
10/12
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that hawill have a big impact wh rates and fiscal cliff issues. when it comes to the fed, all the moves were in anticipation. if you go back and look at the august meeting and how the s&p acted, the dow acted, the weakness in the dollar index, and maybe most of all the rally in mortgages, which could have been the most telegraphed easy trade for the big dogs in the fixed income fund market of all time. but today's adp might have been better, sequentially lower. it doesn't make a different to employment. i have yet to see any research that says qe anything does. >> all right. thank you, all. good to see you. thanks for your thoughts today. appreciate it. >> thank you. >> all right. we're in the final stretch. we have a mixed market for the most part. >> i don't care what you got planned for the afternoon. stick around. we are just getting started on this very busy wednesday edition of the "closing bell." watch. >>> coming up, downloading a dividend? what will apple do with its huge war chest and potentially devastating tax hikes? we'll drill to the
that hawill have a big impact wh rates and fiscal cliff issues. when it comes to the fed, all the moves were in anticipation. if you go back and look at the august meeting and how the s&p acted, the dow acted, the weakness in the dollar index, and maybe most of all the rally in mortgages, which could have been the most telegraphed easy trade for the big dogs in the fixed income fund market of all time. but today's adp might have been better, sequentially lower. it doesn't make a different...
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Nov 30, 2012
11/12
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. >>> what are the long term effects for business travel if the economy falls off the fiscal cliff? the gbta predicts the reduced deficits and lower interest rates will lead to growth in the economy and an increase in business travel spending. >>> welcome back. now to the weather channel. reynolds wolf is standing by. what is happening around the country today? >> the story is all west. everything is taking place out west. rain, some strong winds, even some snow. some places snow getting up to around 2, 3 feet, but that is high elevation. but for the eastern seaboard, pretty quiet p. temperatures very mild this time of year. when you get into the center of the u.s., still fairly mild conditions. a bit cooler as you might imagine in spots up like towards the twin cities and even over towards chicago. but then out west, that's where the trouble really brews. it's that time of year that there's norm lay big area of high pressure that sets up off the west coast. that's gone and that allows all the pacific moisture to come through. high snow will be an issue. rain in seattle. so how is i
. >>> what are the long term effects for business travel if the economy falls off the fiscal cliff? the gbta predicts the reduced deficits and lower interest rates will lead to growth in the economy and an increase in business travel spending. >>> welcome back. now to the weather channel. reynolds wolf is standing by. what is happening around the country today? >> the story is all west. everything is taking place out west. rain, some strong winds, even some snow. some...
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Nov 8, 2012
11/12
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i mean, there's the fiscal cliff, there's the rating agencies downgrading us, there's the debt ceiling, there's the markets losing patience with all of this. there's a series of catalysts. >> i wrote a column on tuesday that said no matter who wins we were going to have a wave of uncertainty, no matter what, because all of a sudden we'd start think being the issues, but by the way i didn't think what i was saying was that revolutionary so it was shocking to me on wednesday all of a sudden this happens. >> that's the opposite of what people were saying. people were saying once you get past the election you remove the uncertainty. >> i thought that was false. >> i absolutely agree. >> there's four ways governments in a short term can influence the markets and economy, one is fiscal monetary regulatory and trade. in terms of the fiscal side unless president obama says paul krugman is the new secretary of the treasury -- >> he isn't running. >> right. >> jack liu, it's already done. >> you're not going to ease more fiscally. the efficacy of mormon tear stimulus is very much in question in
i mean, there's the fiscal cliff, there's the rating agencies downgrading us, there's the debt ceiling, there's the markets losing patience with all of this. there's a series of catalysts. >> i wrote a column on tuesday that said no matter who wins we were going to have a wave of uncertainty, no matter what, because all of a sudden we'd start think being the issues, but by the way i didn't think what i was saying was that revolutionary so it was shocking to me on wednesday all of a sudden...
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Jan 3, 2013
01/13
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must do more than the recently passed fiscal cliff measures if the country is to deal with its ratings outlook. the new congress will be sworn in today at noon eastern time. the 113th congress takes its oath with 56 new democrats and 38 new republicans. in the house, john boehner is expected to be re-elected speaker today. a lot of intrigue around that. speaker boehner has already announced one of the first pieces of business for the new congress. he set a timetable to approve a $60 billion package for superstorm sandy relief. the house will vote on friday for a $9 billion down payment for storm-related support to the national flood insurance program. there will be then a second vote on january 15th on the $51 billion remainder of the sandy disaster aid package that was approved last week in the senate. boehner's announcement coming after fellow republicans loudly criticized the cancellation of an earlier vote. >> this is 66 days and the wait continues. there is only one group to blame for the continued suffering of these innocent victims. the house majority and their speaker, john boe
must do more than the recently passed fiscal cliff measures if the country is to deal with its ratings outlook. the new congress will be sworn in today at noon eastern time. the 113th congress takes its oath with 56 new democrats and 38 new republicans. in the house, john boehner is expected to be re-elected speaker today. a lot of intrigue around that. speaker boehner has already announced one of the first pieces of business for the new congress. he set a timetable to approve a $60 billion...
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Dec 7, 2012
12/12
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>> as far as the fiscal cliff? >> no, we have time for mortgages. >> i think we have time. the fed has stated they want to hold short-term interest rates through 2014. we know they don't technically control long-term interest rates unless they are buying mortgages which they have done over the last couple years. so, you know, it appears by all measures that you have some time, but you never know because these things can change very rapidly. rates tend to go up higher a lot quicker than they come down. >> you've seen the commercial allied financial where they say the greatest economists in the world and a nobel laureate and do you know where interest rates are going in a year, and he says no. we should know what cd rates are going. >> i think they've done the best they can -- >> what is the maximum amount cd rates could fluctuate in the next 12 months? >> could fluctuate? >> a quarter pobet? >> a quarter point. >> where are they? >> 0.3. >> long term? i saw the ad, i saw a full-page ad in the detroit paper recently that a bank was bragging about their incredible interest rat
>> as far as the fiscal cliff? >> no, we have time for mortgages. >> i think we have time. the fed has stated they want to hold short-term interest rates through 2014. we know they don't technically control long-term interest rates unless they are buying mortgages which they have done over the last couple years. so, you know, it appears by all measures that you have some time, but you never know because these things can change very rapidly. rates tend to go up higher a lot...
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Dec 12, 2012
12/12
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>> well, the first part of your question is, it is the economy went off the fiscal cliff, our assessment, cvo, all think there are adverse effects on the economy and unemployment rate. so on the margin we would try to do what we could. perhaps increase a bit. but again, i i want to be clear that we cannot offset the full impact. it is too big given tools and limitations on policy tool kit at this point. on terms of the terminology, well, and people have different preferences about what they want it call things, i think it is a sensible term because i think of the fiscal policies providing support to the economy, if fiscal policy becomes contractionnary, i think the economy will go off a cliff. i think it is reasonable to be concerned about this. i don't buy the idea that a short term descent off the cliff would be costly. it would be costly. in fact we are already seeing costs. why is it that consumer confidence dropped so sharply this week. why is it that small business confidence dropped so sharply? why are the market volatile? why is business investment among its weakest levels during
>> well, the first part of your question is, it is the economy went off the fiscal cliff, our assessment, cvo, all think there are adverse effects on the economy and unemployment rate. so on the margin we would try to do what we could. perhaps increase a bit. but again, i i want to be clear that we cannot offset the full impact. it is too big given tools and limitations on policy tool kit at this point. on terms of the terminology, well, and people have different preferences about what...
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Dec 17, 2012
12/12
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i don't care what happens with fiscal cliff. obviously, i do, but i care how the market is going to react and i'm looking for a full v recovery, back up to 1470. and then if i add that 130 points that we dipped for those highs, i'm looking for the s&p to get to 1300. i think it's very attainable. that would be a full v recovery over the last 12 years from the last time we were at 1500 s&p. >> allen, you're putting smiles on people's faces. let's hope you're right. thanks for joining thus morning. >> thank you very much. >> if you have comments or questions on anything you see here, e-mail us. next, the tragedy at newtown creates a new dialogue about gun control. we'll have former vermont governor howard dean and policy analyst david coppel. and then at 8:00 a.m. eastern, our exclusive interview with david tepper. we'll find out what he's doing after the fed's latest policy changes and what it means. "squawk box" coming right back. if you are one of the millions of men who have used androgel 1%, there's big news. presenting andro
i don't care what happens with fiscal cliff. obviously, i do, but i care how the market is going to react and i'm looking for a full v recovery, back up to 1470. and then if i add that 130 points that we dipped for those highs, i'm looking for the s&p to get to 1300. i think it's very attainable. that would be a full v recovery over the last 12 years from the last time we were at 1500 s&p. >> allen, you're putting smiles on people's faces. let's hope you're right. thanks for...
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Nov 6, 2012
11/12
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i don't care what we do with the fiscal cliff. we've got to be realistic. we've got these enormous obligations that are mounting at the state and county level with pensions, we're only exacerbating the problem with 1% and 2% interest rates. when you got an assumed rate of return of 7.5 or 8, you're going 75% in the hole every year on your difference. >> is that the federal reserve's fault for keeping rates low for so long? >> it's unnatural. it shouldn't be -- look, i understand why we're doing it, but the stimulus did not work. say what you will, whatever you want. it did not work. that was, by the way there was a wonderful sign, it showed all of the things that happen in the private sector. look at the amount of money that was poured into these startup companies by the government, bankrupt, bankrupt, bankrupt, bankrupt, bankrupt. >> if obama does win, what happens? meaning this politically divided partisan rancor, does it continue? do people stop? i can see if romney wins how potentially it could stop and it will be a good thing, maybe it happens, i don't
i don't care what we do with the fiscal cliff. we've got to be realistic. we've got these enormous obligations that are mounting at the state and county level with pensions, we're only exacerbating the problem with 1% and 2% interest rates. when you got an assumed rate of return of 7.5 or 8, you're going 75% in the hole every year on your difference. >> is that the federal reserve's fault for keeping rates low for so long? >> it's unnatural. it shouldn't be -- look, i understand why...
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Dec 17, 2012
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it wasn't only the fiscal cliff that brought yields so low on the bonds. if you look just look in july we had an unemployment rate in this country of 8.3%. china looked like a hard landing, europe a lot of uncertainty there. now europe looks slightly better. china looks like a soft landing and our unemployment rate is 7.75%. right now when i look at the ten-year march bond futures i see just trading below that 1.2320 area and if it settles below that that says yield will trade above that 1.75 area possibly hit 1.8, 1.9. >> you have a question? >> looks like you agree. anthony? >> yes. >> tepper says the parkt is rich. it sounds like you agree. >> yeah, i absolutely do agree with that. absolutely. i think that with economies improving, things like that, the safety or the safe haven look comes out of bonds, into the risk on assets, equity markets. >> all right. now you know how our guys are playing the fiscal cliff. would you rather buy bonds or stocks right now? logon and vote in our poll. we'll give you those results on our online show tomorrow. scott back
it wasn't only the fiscal cliff that brought yields so low on the bonds. if you look just look in july we had an unemployment rate in this country of 8.3%. china looked like a hard landing, europe a lot of uncertainty there. now europe looks slightly better. china looks like a soft landing and our unemployment rate is 7.75%. right now when i look at the ten-year march bond futures i see just trading below that 1.2320 area and if it settles below that that says yield will trade above that 1.75...
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Nov 29, 2012
11/12
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one of the things in the fiscal cliff is going back to the clinton era tax rates for everybody. now, i know there's sequestration and payroll tax. there's a lot of other things in there, but we did okay with those tax rates. why did we just assume there'd be a recession. >> let me mention a couple of things from the 1990s that are very different from today. first, there was a lot. there was an implicit deal that when clinton raised tax rates, the federal reserve would accommodate that with lower interest rates. you're not going to get that today. we're already basically at zero. there's very little for the feds to do. secondly if you go back to the 1990s, you may recall we had this thing called the internet bubble. that's a big driver. >> no, no. that's a republican's favorite answer. it wasn't clinton. it with us the bubble. >> we -- well, we did have a bubble. i mean that was a big thing. it drove in a lot of revenue. and if you recall clinton's last year in office, the bubble was starting to collapse. >> we had a pretty good housing market, too, i think. >> absolutely. >> and
one of the things in the fiscal cliff is going back to the clinton era tax rates for everybody. now, i know there's sequestration and payroll tax. there's a lot of other things in there, but we did okay with those tax rates. why did we just assume there'd be a recession. >> let me mention a couple of things from the 1990s that are very different from today. first, there was a lot. there was an implicit deal that when clinton raised tax rates, the federal reserve would accommodate that...
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Nov 11, 2020
11/20
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you now, it came with a lot of other issues he sequestration, budget cut, the fiscal cliff but if it is part of a much bigger package that includes tax cuts for the middle class, you could get a compromise and that was put together by joe biden and mitch mcconnell. so everyone is writing off any big tax increases, but we did see it before. so whether with we can get back to that less partisan timing is unclear of course. >> yeah, supposedly buddies mcconnell and biden. thanks and for more on president-elect biden's tax plan, let's bring in our guests co-leader of pwc national tax office and also served as leader mitch mcconnell's domestic policy director. and also with the seth halen, from the american progress action fund and served as special assistant to president obama for economic policy. so a wish list probably that you and maybe others in your party want but it is up in the air. it does depend on georgia in the is th senate in best case scenario, what do you see biden being able to do >> well, so obviously i totally yes with the agree with the analysis that it depends on georg
you now, it came with a lot of other issues he sequestration, budget cut, the fiscal cliff but if it is part of a much bigger package that includes tax cuts for the middle class, you could get a compromise and that was put together by joe biden and mitch mcconnell. so everyone is writing off any big tax increases, but we did see it before. so whether with we can get back to that less partisan timing is unclear of course. >> yeah, supposedly buddies mcconnell and biden. thanks and for more...
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Feb 13, 2013
02/13
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cliff behind us. historians will look back at the december 12th fomc press release of last year when the fed came out and linked zero interest rate policy to 6.5% unemployment rate. when you do the arithmetic if you work through how long that's going to be, it means five more years of negative real interest rates. cash will be the worst performing asset going forward. >> right so -- >> what are you going to do with it? the one thing the equity market has going for it, you have over 2% dividend yield which isn't bad compared to what citi will pick up in the bond market but it's not just about the dividend yield, it's also about the dividend growth an the payout ratio is barely more than 30%, when it gets above 50 the story will be over. >> don't fight the feds is the bottom line. that helped eliminate any huge blowup in europe, it's also meaning that maybe we're not going to get a recession in the united states and probably helped out china as well. joe you wanted to jump in? >> david it sounds like ma
cliff behind us. historians will look back at the december 12th fomc press release of last year when the fed came out and linked zero interest rate policy to 6.5% unemployment rate. when you do the arithmetic if you work through how long that's going to be, it means five more years of negative real interest rates. cash will be the worst performing asset going forward. >> right so -- >> what are you going to do with it? the one thing the equity market has going for it, you have over...
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Dec 27, 2012
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not in the health and maturity -- >> not the fiscal cliff? >> no, i'm just talking about interest rates. >> anything happening if we go through? you know it's coming up, monday is new year's eve. >> it will hurt the economy which will hurt banks. but banks have rallied, i think, mostly because of the fed. they have cash flow, they were underperforming assets. allocations were very low on financials. so we've come back. that's the first point. but i really don't see huge volume growth in the industry. if we have mid single digit revenue growth next year for all banks, that would be good. i think credit costs will keep coming down. that's what's been driving the increase in operating margins in the industry. just falling -- go when does that reverse itself? >> well, i don't think it does. we're at about 1.1% charge off the total loans. it was twice that a year ago. we have peaked up in the fours. so we're in much better shape. but remember the industry is only making 1% return on assets. most banks are 70% to 80% loan. so if you're still chargi
not in the health and maturity -- >> not the fiscal cliff? >> no, i'm just talking about interest rates. >> anything happening if we go through? you know it's coming up, monday is new year's eve. >> it will hurt the economy which will hurt banks. but banks have rallied, i think, mostly because of the fed. they have cash flow, they were underperforming assets. allocations were very low on financials. so we've come back. that's the first point. but i really don't see huge...
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Dec 11, 2012
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we are in washington holding lawmakers' feet to the fire on the fiscal cliff. it had been quite a busy morning. here's what we now know. we're expecting house speaker boehner to give us an update on the fiscal cliff negotiations at any minute. in have been sberp rating the previous silence from the administration and speaker's office as a good sign real progress was being made. from what we have heard from our guests so far this morning there's a general sense of optimism a deal will be reached. perhaps not in a forum that's widely expected. that optimism seemingly reflected in the markets. we are up more than 100 point ossen the dow. >> i'm maria bartiromo along with brian sullivan. representative patrick mchenry, republican from north carolina. good to have you on the program. thanks for joining us. let's talk about where we are. what would you say? where are we in terms of a deal? >> not as bad as last week and not as bad as the week before. not really in a great position to get things done. the president's more interested in campaigning around the country a
we are in washington holding lawmakers' feet to the fire on the fiscal cliff. it had been quite a busy morning. here's what we now know. we're expecting house speaker boehner to give us an update on the fiscal cliff negotiations at any minute. in have been sberp rating the previous silence from the administration and speaker's office as a good sign real progress was being made. from what we have heard from our guests so far this morning there's a general sense of optimism a deal will be...
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Dec 31, 2012
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the automatic fiscal cliff cuts will mean 2% reduction for medicare. on top of that, doctors face a 27% rate cut, because of a medicare formula that all sides say is broken. the sustainable growth rate formula, nicknamed the sgr, triggers doctor reimbursement cuts when health costs outpace economic growth. for nine years congress has passed doc fix funding to keep rates from being cut. this year it's being held hostage by the fiscal deadlock. without a fix, one physician group has calculated that most solo family doctors will see a $27,000 cut in terms of their revenues this year. a typical three-doctor practice will lose $80,000. the centers for medicare and medicaid notified doctors that they may not see a cut right away, because of a 14 to 29-day in terms of when they actually pay the bills after they are received. if congress reaches a deal by mid-month, they won't see a problem. the cms says they'll provide an update on january 11th. not knowing how much you're going to get paid for a couple of weeks as you're starting to see patients. there's bip
the automatic fiscal cliff cuts will mean 2% reduction for medicare. on top of that, doctors face a 27% rate cut, because of a medicare formula that all sides say is broken. the sustainable growth rate formula, nicknamed the sgr, triggers doctor reimbursement cuts when health costs outpace economic growth. for nine years congress has passed doc fix funding to keep rates from being cut. this year it's being held hostage by the fiscal deadlock. without a fix, one physician group has calculated...
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Dec 18, 2012
12/12
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throughout the whole fiscal cliff debate, the administration has tried to rally ceos as a pressure point on the gop but also we're hearing what the executives are saying, is, look, it seems like you are so close. they are pushing back and urging geithner to make a deal, given that they seem to be on the revenue side and spending side, a lot closer than it seems in political terms, scott. >> steve, as we move ahead with the show, we're going to put ahead the major averages. to your point, the market is certainly counting on these guys coming even closer together and figuring it all out and getting a deal. >> i have to say one thing, it seems as if one of the things the administration has to do now with this new development of boehner having this plan b is they have to keep these discussions on track. remember, there was the boehner offer, the obama counteroffer, and then there was this other thing, this stead of another counteroffer from boehner, we may walk away and do a tax only deal. so i think that's part of the focus in these last couple hours here, is the administration trying to ke
throughout the whole fiscal cliff debate, the administration has tried to rally ceos as a pressure point on the gop but also we're hearing what the executives are saying, is, look, it seems like you are so close. they are pushing back and urging geithner to make a deal, given that they seem to be on the revenue side and spending side, a lot closer than it seems in political terms, scott. >> steve, as we move ahead with the show, we're going to put ahead the major averages. to your point,...
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Oct 24, 2012
10/12
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power player richard madigan from jpmorgan private bank on volatility in the markets, the fiscal cliff and how to find safety. and did you miss your moment? mortgage rates creeping back up, lending getting tighter. is the housing rebound about to get strangled? apple reports tomorrow what you need to know today, later on "power lunch." back to simon and more of "the halftime report." tyler matheson hearing the extremities expectations are low that the fed will add stimulus to the economy when it releases its decision at 2:15 eastern but there are ways to trade treasuries ahead of the announcement. here dennis gartman editor of "the gartman letter" joins us on the fast line. dennis welcome to the program. what is the trade? >> simon i'm short a small amount and i mean a small amount of the ten-year, i'm short the long end of the curve for the simple reason i don't think the fed is going to do much. i don't think they can do much nor should they do much ahead of the election. what's more important to me is the fact over the course of the last year the adjusted monetary base which is the
power player richard madigan from jpmorgan private bank on volatility in the markets, the fiscal cliff and how to find safety. and did you miss your moment? mortgage rates creeping back up, lending getting tighter. is the housing rebound about to get strangled? apple reports tomorrow what you need to know today, later on "power lunch." back to simon and more of "the halftime report." tyler matheson hearing the extremities expectations are low that the fed will add stimulus...
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Dec 13, 2012
12/12
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"squawk" has dueling guest hosts to work out all the fiscal cliff issues that lawmakers can't. but what should the small investor do ahead of the new year? more "squawk box" next. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho! this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. >>> the fed makes history. chairman bernanke links interest rates to the unemployment rate, but does this mean investors should get in to stocks right now. >> time for dueling guest hosts. ♪ with offers going back and forth between capitol hill and the white house, we're going to try to solve the problems on our own set with
"squawk" has dueling guest hosts to work out all the fiscal cliff issues that lawmakers can't. but what should the small investor do ahead of the new year? more "squawk box" next. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours....
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Oct 26, 2012
10/12
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cliff. >> you do not like the 20% cut in rates or a figure we can't do it, it doesn't add up but simpson/bowles is a 28% rate, and mine nus 35 is 28. you must be against simpson/bowles, then? >> i think the broad principles of simpson/bowles are exactly right. i believe as the president believes that the national security cuts in simpson-bowles are untenable. they're as bad as a sequester, they would do real damage to our national -- >> how about that? >> plugging the base is exactly the right thing to do and we should lower the rates as much as we can consistent with getting to that kind of balanced budget. i'd be prepared -- i'm not an elected -- i'm not an elected official. i'd be prepared to go as far as anybody wants to go on broadening the tax base, but when you start talking about taking away the charitable deductions -- >> we've got to figure out what to do -- >> got to figure out what we're going to do on the base, how much we can broaden the base and then we can see what we're able to do on rates. let's just start with that 20% cut especially when you're loading on $2 trillion
cliff. >> you do not like the 20% cut in rates or a figure we can't do it, it doesn't add up but simpson/bowles is a 28% rate, and mine nus 35 is 28. you must be against simpson/bowles, then? >> i think the broad principles of simpson/bowles are exactly right. i believe as the president believes that the national security cuts in simpson-bowles are untenable. they're as bad as a sequester, they would do real damage to our national -- >> how about that? >> plugging the...
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May 17, 2012
05/12
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because i think that if there's no resolution at all, that fiscal cliff on january 1st is going to scare the stock market, it going to scare the banks, it's going to scare the consumer and investors and firms. >> look, there's no question that it's a good, strong possibility and that's what we're advocating for today. as paul made the point, if you extend these rates for a meaningful period of time but then don't give up on the momentum. look, there's nobody that can defend the status quo of the tax code in its entirety today. there's a real opportunity for to us come together as a country and to come and say what we need is a tax code that makes the united states the most competitive tax jurisdiction in the world. and we've got all kinds of momentum behind that. the house ways and means committee over the past 18 months have held dozens and dozens of hearings to lay the record. if you had to distill it down into one word, it is the word competitiveness. to paul's point, if you extend these for meaningful period and drive ford for a comprehensive agenda, it's where the overwhelming major
because i think that if there's no resolution at all, that fiscal cliff on january 1st is going to scare the stock market, it going to scare the banks, it's going to scare the consumer and investors and firms. >> look, there's no question that it's a good, strong possibility and that's what we're advocating for today. as paul made the point, if you extend these rates for a meaningful period of time but then don't give up on the momentum. look, there's nobody that can defend the status quo...
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Nov 20, 2012
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. >> we'll come back and get your ideas on what we do to fix this fiscal cliff. i change every day on what i think we need to do. i don't know. let's say we got rid of the sequester completely and didn't worry about spending, went back to the clinton tax rates for everybody. is that the end of the world? >> i wouldn't think so. >> three-quarters of the deficit goes away. >> i think we'd probably have to deal with some of the investment income rates perhaps. >> you're talking from the republican side. >> no, i think we find ourselves at a different moment. i don't think it would be the end of the world but i think we can probably find a more sustainable way to do it, to not push. >> where were the investment rates, capital rates and dividends under clinton, 25? brings it up 20% higher? >> we're in the no huddle offense for congress and we don't have a good track record. congress has not performed well with this president in the no huddle offense. we have two minutes and got to score a touchdown. >> the reason they put in these things were to make sure they finally
. >> we'll come back and get your ideas on what we do to fix this fiscal cliff. i change every day on what i think we need to do. i don't know. let's say we got rid of the sequester completely and didn't worry about spending, went back to the clinton tax rates for everybody. is that the end of the world? >> i wouldn't think so. >> three-quarters of the deficit goes away. >> i think we'd probably have to deal with some of the investment income rates perhaps. >>...
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Nov 21, 2012
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>> i thought i had to deal with the fiscal cliff, but undressing. >> you will. it's got like a stripy thing going on. >>> let's get an outlook on the markets. right now we have daniel from tjm institute. we've been watching what happens with the futures every day. a lot of concerns about the fiscal cliff, is that the biggest issue driving things right now? >> the fiscal cliff is the driving issue right now. a little fear from europe. the market came off. that is in the background. as long as we're seeing things move forward, but not negative on the fiscal cliff, i think you'll see the market bounce against this 87 and 90 level. any hint of a compromise, yo ur goi you're going to break the 1,400 level. >> okay. 20 to 22 area. every time these talks come in, though, we know it's going to be a lot of turbulence between now and let's say the middle of december or some time, that'd be the earliest. are you following every single trade? are you thinking eventually there'll be a deal that gets done? >> i think eventually there will be a deal that gets done. and i kind
>> i thought i had to deal with the fiscal cliff, but undressing. >> you will. it's got like a stripy thing going on. >>> let's get an outlook on the markets. right now we have daniel from tjm institute. we've been watching what happens with the futures every day. a lot of concerns about the fiscal cliff, is that the biggest issue driving things right now? >> the fiscal cliff is the driving issue right now. a little fear from europe. the market came off. that is in...
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Aug 6, 2012
08/12
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fiscal cliff but even if we have solved the fiscal cliff, six-month deal, there would still be enormous uncertainty from the election. difference between obama and romney on the economy on tax rates, i think it is huge. i mean, obama is going after not only small businesses but multinational corporations. so whoever wins the election makes a big difference on the bottom line here. >> no doubt about it. thank you so much. big conversation. appreciate your time. we will see you soon. thank you. before we go, we asked whether congress should be going on vacation with the fiscal cliff unresolved. we asked and you tweeted. here are your responses. memorandum dane tweets, congress should go on vacation and never come back. despite congress will be taking a five-week vacation is no different than what they have done all year. nothing. and brian tweets, i will be easier to resolve after a nice long vacation. besides they perform better when time is running out. thanks, everybody, for tweeting in. con to send your comments. we will get them on the air. be sure to catch "squawk box" tomorrow morn
fiscal cliff but even if we have solved the fiscal cliff, six-month deal, there would still be enormous uncertainty from the election. difference between obama and romney on the economy on tax rates, i think it is huge. i mean, obama is going after not only small businesses but multinational corporations. so whoever wins the election makes a big difference on the bottom line here. >> no doubt about it. thank you so much. big conversation. appreciate your time. we will see you soon. thank...
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Dec 19, 2012
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maria, back to you. >> the weekend market pinned to a bad day in the fiscal cliff negotiations. john harwood at the white house who had a front row seat in all of this. what can you tell us. >> reporter: as bob pisani just mentioned the discussion today is about that plan "b" that speaker boehner is offering to only raise taxes on million dollar incomes and do nothing on spending cuts until next year. the president came out into the white house briefing room said, and after talking about gun control made the argument in response to questions that they have narrowed their differences too much to walk away from negotiations now. >> i've said i'm willing to make some cuts what. separates is probably a few hundred billion dollars. the idea that we would put our economy at risk because you can't bridge that gap doesn't make a lot of sense. >> that wasn't persuasive at least publicly to house speaker boehner who faces a lot of resistance to his caucus on million dollar incomes or 400,000 or 250,000 income. he could pass plan "b" and put the ball right back in the president's lap. >> t
maria, back to you. >> the weekend market pinned to a bad day in the fiscal cliff negotiations. john harwood at the white house who had a front row seat in all of this. what can you tell us. >> reporter: as bob pisani just mentioned the discussion today is about that plan "b" that speaker boehner is offering to only raise taxes on million dollar incomes and do nothing on spending cuts until next year. the president came out into the white house briefing room said, and...
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Dec 13, 2012
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we're looking at the fiscal cliff and austerity and he's doing what he can just to keep this thing afloat and to not go back into a recession. i think rates stay low for an extended period of time. i don't know if we get to 6.5% next year or in two years from now, but that's not -- it's not going to be like all of a sudden we get to 6.5 and bam, he lifts -- he stops what he's doing. i think that they're going to take into account a lot of what's going on in the economy. and we'd better see some pickup in a lot of different fronts for them to actually stop these programs. >> liesman's here. he's typing away as each of you were giving the answer. so who's right, steve? the market seems to be perplexed here because the stock market sold off during the news conference that you were at. and got your three questions in, by the way, i think at the top. and then it's down again today at the lows of the day. >> you know, it's interesting, should i be grade being the students or grading the professor? i guess that's the question i have. in a sense, they get to always be right in the following way.
we're looking at the fiscal cliff and austerity and he's doing what he can just to keep this thing afloat and to not go back into a recession. i think rates stay low for an extended period of time. i don't know if we get to 6.5% next year or in two years from now, but that's not -- it's not going to be like all of a sudden we get to 6.5 and bam, he lifts -- he stops what he's doing. i think that they're going to take into account a lot of what's going on in the economy. and we'd better see some...
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Apr 23, 2013
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so women and men are resilient, are there, we have lived through the fiscal cliff. the sun rose the next day. yes, payroll taxes are higher. our savings rates are a bit lower, but consumers are spending at higher levels this spring than they did last spring. >> so you don't see a slowdown? >> not at all. and in our category, especially not. >> what about currency translation? you have this race to the bottom, many central banks around the world are adding liquidity. japan, very prominently is doing that right now. that's got to hurt a company like yours, trying to sell goods overseas. >> it's hurt us modestly. in constant currency, as an example, our sales are off up 1 but because of the chain of reduction in the volume, we're only up 7%. it's impacted us a few cents ton bottom line as well. but we do some hedging and we are very diversified. >> what can you tell us about japan? it seems that's all we're talking about in terms of the market activity there, huge rallies, all the stimulus from the central bank there. what are you seeing on the ground in terms of the c
so women and men are resilient, are there, we have lived through the fiscal cliff. the sun rose the next day. yes, payroll taxes are higher. our savings rates are a bit lower, but consumers are spending at higher levels this spring than they did last spring. >> so you don't see a slowdown? >> not at all. and in our category, especially not. >> what about currency translation? you have this race to the bottom, many central banks around the world are adding liquidity. japan,...
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Dec 18, 2012
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fiscal cliff negotiations, our top story. now president obama is proposing leaving lower tax rates in place for everyone except those earning $400,000 and above. that's above the $250,000 threshold that the president has been demanding for months, but it is still far from speaker john boehner's request of $1 million. a source familiar with the talk says this is by no means the final offer for the white house. the move by the president was welcomed, albeit with some reservations. we will talk about the latest developments in just a few minutes. in the meantime, the global markets seem to be taking note of the optimism. you can see right now that those dow futures are up by 54 points. this comes after a decent rally for the markets yesterday. s&p futures at this point are up by better than seven points and the nasdaq futures up, as well, by about 17. european shares rising. germany is up, the ftse is up, the france, the cac in france has turned slightly down. but, again, this is a marginal loss of about three points. most of th
fiscal cliff negotiations, our top story. now president obama is proposing leaving lower tax rates in place for everyone except those earning $400,000 and above. that's above the $250,000 threshold that the president has been demanding for months, but it is still far from speaker john boehner's request of $1 million. a source familiar with the talk says this is by no means the final offer for the white house. the move by the president was welcomed, albeit with some reservations. we will talk...
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Aug 23, 2012
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that's the issue of the fiscal cliff. >> nobody believes that going back to bill clinton's tax rates will cripple the economy. is that right? >> the president of the united states believed it in 2010 and said we cannot risk it. i will extend the tax rates for two years. we are growing more slowly than we were at that time. i can name one important person who believes that. >> the president of the united states, as i recall it extended the bush tax cuts under a lot of pressure by republicans. right now does anybody really believe, honestly, that going back to the clinton tax rates would cripple and destroy the american economy? >> cripple and destroy? no. when you're growing at under 2%, 1.5, 1.3 maybe in the third quarter, weak enough that anything that goes round can tip you into recession, that's a bad risk, not a risk you want to take. that's a disservice from the people you are trying to help when you put in a trigger saying we are not getting anything until 6% unemployment. >> it would be great if republicans and democrats could get together and agree on a plan and a trigger for
that's the issue of the fiscal cliff. >> nobody believes that going back to bill clinton's tax rates will cripple the economy. is that right? >> the president of the united states believed it in 2010 and said we cannot risk it. i will extend the tax rates for two years. we are growing more slowly than we were at that time. i can name one important person who believes that. >> the president of the united states, as i recall it extended the bush tax cuts under a lot of pressure...
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Jan 14, 2013
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they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to the federal tax changes rather than the new state tax rates. now it all shows that california is more dependent than ever on the wealthy. the top 1% of earners, remember they pay up to half of the state's total income taxes but revenues from the rich are now harder than ever to predict. back to you guys. >> thank you, robert. let's go to michelle ka brumich >> you will have a lot more cartoons available on the kid section only and also the exclusive video streamers of the new seasons of dallas. as you can see, getting a big texas more with more than 2%. back to you, tyler. >> thank you, michelle. >>> jp morgan out with more this week. the london whale and that loss may take a big bite out of jamie dimon's bon
they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to the federal tax changes rather than the new state tax rates. now it all shows that california is more dependent than ever on the wealthy....
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Nov 15, 2012
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can you envision a deal being done on the fiscal cliff that does not have tax rates for the wealthy going to 39. 7? >> yes. >> really? >> the president did not end up where you ended up. he was asked directly is 39.6 your ending point and he was careful to say no i'm not shutting the door on that. it's very clearly his starting point and i would say more emphatically his starting point is the expiration of the upper income. so he believes correctly he ran on that, he won on that, and as he said yesterday even more people than voted for him support that, in the exit polls so that's where he starts. i don't know that's where he ends. >> wait a second you both said something very interesting. first of all the 39.6 is one question. the other is, is it going to affect people at $250,000, half a million dollars, a million dollars. >> i disagree with george on this point, i have a very hard time envisioning 250 becoming 500 or a million. we looked at that a little while ago. you saw schumer and pelosi kind of made some signals. i don't see it and george is right you lose a lot of revenue when yo
can you envision a deal being done on the fiscal cliff that does not have tax rates for the wealthy going to 39. 7? >> yes. >> really? >> the president did not end up where you ended up. he was asked directly is 39.6 your ending point and he was careful to say no i'm not shutting the door on that. it's very clearly his starting point and i would say more emphatically his starting point is the expiration of the upper income. so he believes correctly he ran on that, he won on...
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Apr 20, 2023
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cliff. we know our country with interest rates where they are, economy where it is, we need to do everything we can to address our long-term fiscal health. the idea, i think we agree on this, that we would literally put a full faith and credit of the united states at risk right now, the 401(k)s in risk, china and others over the debt ceiling makes absolutely no sense. we've got to put that asichltd but we also have to deal with our longer term fit call health issues we can do both that's kind of the point but it's going to take outside experts and ideas. some people who are willing to actually make some tough recommendations across the board. and i think we should consider those in up and down vote which is what we proposed. the bottom line is right now what is critical is that -- and as bryan said, with he need to really look to our leadership first and say, hey, hopefully you sit down and work this out but we offered a backup plan in case things don't work out but what we all agree on is w
cliff. we know our country with interest rates where they are, economy where it is, we need to do everything we can to address our long-term fiscal health. the idea, i think we agree on this, that we would literally put a full faith and credit of the united states at risk right now, the 401(k)s in risk, china and others over the debt ceiling makes absolutely no sense. we've got to put that asichltd but we also have to deal with our longer term fit call health issues we can do both that's kind...
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Dec 4, 2012
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the fiscal cliff. if we go off the cliff tax rates on dividends could go from 15% to more than 43%. companies are racing to beat the tax hikes by paying dividends before december 31st and some of the biggest beneficiaries, both insiders and ceos. mickey arison is getting $89 million from carnival giving him a potential tax savings. and larry elison is getting savings around $56 million. thomas frist at hca is getting around $350 million, saving him $100 million. and kkr and bain capital will get a big piece of the dividends. the king of all dividends is sheldon adelson who gets $1.2 billion from sands corp dividend and his tax savings alone could be $340 million. all shareholders benefit from dividends and many of the owners and ceos have recused themselves from the dividend votes, but these companies tend to have higher insider ownership. the average insider ownership of these dividenders is around 27%. it all shows that just the threat of higher taxes is causing companies and people to take next year's income today when they can. >> yeah. it's interesting. we were talking about th
the fiscal cliff. if we go off the cliff tax rates on dividends could go from 15% to more than 43%. companies are racing to beat the tax hikes by paying dividends before december 31st and some of the biggest beneficiaries, both insiders and ceos. mickey arison is getting $89 million from carnival giving him a potential tax savings. and larry elison is getting savings around $56 million. thomas frist at hca is getting around $350 million, saving him $100 million. and kkr and bain capital will...
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Nov 7, 2012
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at that rate, we go over the fiscal cliff. >> wow. jeremy, very quickly. capital gains and the dividend tax increases. you expect those get put on hold or those rise in some way in this patch situation? >> oh, i mean, that's a good question. much more interested in getting at least some rise in that top income tax rate. i think he'd be willing to extend the 15% on dividends and capital gains. remember, however, we do have that 3.8% medicare surcharge for higher income people on that. so he's going to get that as part of it. i think he wants just a little increase if the republicans can go for that, i think the market would respond positively pending comprehensive tax reform. >> jeremy, vincent, thank you both for joining us. >> i have a little clever jingle. i'm going to step out and read this as i rise above the partisanship. the election is over, the talking is done, your side lost, my side won. so let's get together, let bitterness pass, i'll hug your elephant, you kiss my ass. >>> coming up -- i will look at -- donkey. >> donkeys are cute. >> look at t
at that rate, we go over the fiscal cliff. >> wow. jeremy, very quickly. capital gains and the dividend tax increases. you expect those get put on hold or those rise in some way in this patch situation? >> oh, i mean, that's a good question. much more interested in getting at least some rise in that top income tax rate. i think he'd be willing to extend the 15% on dividends and capital gains. remember, however, we do have that 3.8% medicare surcharge for higher income people on...
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Dec 10, 2012
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in your view would it be better to go over the fiscal cliff than to get the back to the clinton rates on the high end? >> i think the best thing we don't go over the fiscal cliff. >> you do? you'd rather do some kind of deal? >> yes, i'd rather -- that's why we proposed from right after the election. everything we've heard from the other side has been silent until yesterday -- >> like we said, no way, unless we go to 39.6 on the top 2%. would you vote no to that and go over the cliff? >> look, he's not -- i'm not going to negotiate right here on the tv. i'd rather sit and negotiate with them. but the one thing i will tell you, what they're asking for is revenue. republicans have put revenue on the table. the president's own words a year ago in 2011 said he could get $1.2 without raising any taxes. and think for a moment, if you close loopholes you get a fairer process. for those who don't have lobbyists, or high-priced attorneys or accountants, they get a very fair system. and no longer are we making an investment based upon what the irs code is, it's based upon what the economics sho
in your view would it be better to go over the fiscal cliff than to get the back to the clinton rates on the high end? >> i think the best thing we don't go over the fiscal cliff. >> you do? you'd rather do some kind of deal? >> yes, i'd rather -- that's why we proposed from right after the election. everything we've heard from the other side has been silent until yesterday -- >> like we said, no way, unless we go to 39.6 on the top 2%. would you vote no to that and go...
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Dec 31, 2012
12/12
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we created this fiscal cliff. that's absurd. that's what the government does. get government off our backs and this economy could take off. >> senator, thank you. we'll see. >> the packers. >> still? >> absolutely. >> -- through washington. >> that's what i'm saying. i was rooting for the redskins last night. that was a fun game to watch. >> becky, did you notice, where did we get -- took us that long to find a song called rise above? did you hear that song. >> we did hear that at the beginning. i was talking about spider-man, they sing it through spider-man on broadway. that was a different version. >> can we commission that song? or did that exist in senate? >> it's actually me singing the backup. no! >> i wondered because it sounded like sorkin was the reggae thing. weren't you just in jamaica? >> i was in jamaica. we recorded that while we were down there. >> this is where we come together. we're not allowed to play any beatles stuff. >> we're not? >> no. ixnay on the beatles. >> now i have the kangaroo song stuck in my head. >> why did i think of that? but
we created this fiscal cliff. that's absurd. that's what the government does. get government off our backs and this economy could take off. >> senator, thank you. we'll see. >> the packers. >> still? >> absolutely. >> -- through washington. >> that's what i'm saying. i was rooting for the redskins last night. that was a fun game to watch. >> becky, did you notice, where did we get -- took us that long to find a song called rise above? did you hear that...
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Jan 22, 2013
01/13
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. >> is that because -- all right that's not fiscal cliff. we're not just measuring the last month or two. >> we're measuring actual, real things. >> so is it the austerity dinakar's been talking about? tax rates are going up around the world. >> we call it austerity in europe what it really was they raised taxes over there. >> you're reducing consumer income. so if you raise consumer taxes by 2% you've reduced consumer income by 2% which means you're going to reduce consumer spending. >> we heard china is doing better, europe is also the front burner. why are you seeing the contraction in these numbers? >> because you're seeing less consumption and less production. less prosperity. >> from the austerity from the higher taxes? >> that's at least part of it. and also just caution. you know, you see -- you go through space by space by space and they're just unwilling to make those investments. >> in the past, and i hear j&j numbers in the past the dow transports hit a new high and it's not confirmed by the industrials, then that signaled that w
. >> is that because -- all right that's not fiscal cliff. we're not just measuring the last month or two. >> we're measuring actual, real things. >> so is it the austerity dinakar's been talking about? tax rates are going up around the world. >> we call it austerity in europe what it really was they raised taxes over there. >> you're reducing consumer income. so if you raise consumer taxes by 2% you've reduced consumer income by 2% which means you're going to...
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Oct 3, 2012
10/12
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cuts and you still got another $300 billion. >> that is not what the fiscal cliff does. restore the tax rates to bill clinton's tax rates. and we had a pretty good economy. >> that's $350 billion. >> we had a pretty darn good economy when we were playing bill clinton's tax rates and then it cuts defenses we haven't done in 30 years and entitlement programs. >> there's a few on the left that admit that going back to the clinton tax rates is not just for people who are 250, it's for everyone. >> i agree with that. >> $200 billion in the middle class from the bush tax cuts and $100 billion from the payroll tax cut -- >> it would do a lot. >> we should take our medicine, we should do it. >> that's where i think you're right. we have to -- any politician who says democrat or republican, we're going to get out of this without suffering some pain -- >> that's what we're hearing from paul krugman who says any democrat that goes along with the simpson/bowles. >> only for one reason, you shouldn't raise the -- you shouldn't raise the eligibility for medicare to 67. that makes no s
cuts and you still got another $300 billion. >> that is not what the fiscal cliff does. restore the tax rates to bill clinton's tax rates. and we had a pretty good economy. >> that's $350 billion. >> we had a pretty darn good economy when we were playing bill clinton's tax rates and then it cuts defenses we haven't done in 30 years and entitlement programs. >> there's a few on the left that admit that going back to the clinton tax rates is not just for people who are...
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Nov 26, 2012
11/12
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cliff resolution and absolutely comprehensive tax reform sometime in 2013, lowering the corporate rate, broadening the base. >> how do you force tax reform when the fiscal cliff was supposed to be the gun at everybody's head? if we say never mind, how do you actually force it in the new year? >> i think that first of all in terms of the fiscal cliff, it's got to be a framework deal. you're not going to get legislation in a lame duck. so calculate what the tax revenue number needs to be. take the president's and you get a deal. if there's a tram work $4 trillion deal over ten year, legislation can be codified and enacted after the fact that solidifies that, then you've bridged comprehensive tax reform. i think the keys are revenue neutrality, broadening the base, eliminating the loopholes, the devil's in the details. but i think there's also recognition that corporate comprehensive tax reform needs to occur. both sides of the aisle wanted to wait until the election is over. it's over. we have to tackle is. >> but now we're waiting again until we get closer to the next election. >> no, w
cliff resolution and absolutely comprehensive tax reform sometime in 2013, lowering the corporate rate, broadening the base. >> how do you force tax reform when the fiscal cliff was supposed to be the gun at everybody's head? if we say never mind, how do you actually force it in the new year? >> i think that first of all in terms of the fiscal cliff, it's got to be a framework deal. you're not going to get legislation in a lame duck. so calculate what the tax revenue number needs to...
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Dec 4, 2012
12/12
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two things, first of all, i actually think we're going to get a resolution to the fiscal cliff. i just think it's going to come after we go over. so that's not unlike -- >> we agree. >> the idea there is actually republicans can claim a tax decrease. that is you can take the rate down from 39.6% to 38% or 37%, something like that. the president gets what he wants, which is higher rates. the republicans can claim victory as well because they're lower than they would have been otherwise. >> tony, let's assume we do, in fact, go over the cliff. as both you and jerrod suggest that we likely will. the market will likely go down and go down hard. a new poll suggested if we do go over the cliff that republicans are going to be the ones who are going to be blamed. how will we deal with that with the market being held hostage by these negotiations which seemingly, at least in public, are going nowhere? >> first of all, i think the markets might be better to listen to me and jerrod rather than whoever is telling them this could absolutely get done and the republicans will cave and that's
two things, first of all, i actually think we're going to get a resolution to the fiscal cliff. i just think it's going to come after we go over. so that's not unlike -- >> we agree. >> the idea there is actually republicans can claim a tax decrease. that is you can take the rate down from 39.6% to 38% or 37%, something like that. the president gets what he wants, which is higher rates. the republicans can claim victory as well because they're lower than they would have been...
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Nov 12, 2012
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cliff you'll see an increase by 1% in the unemployment rate which means an increase of 100 basis points in health care costs he at aetna will have to lay off people. he's putting those plans in place. >> the numbers are sliding all over the place, becky. on the other hand if corporate managers look at what else is going on in the economy, the election is behind us, we've got very accommodative monetary policy, suddenly we have some level of certainty on the fiscal situation, you could suddenly see investment decisions being made and some of this $1.7 trillion on corporate balance sheets going into the economy. >> dan, can i just make sure that you're saying that this is something that happens if we go over the fiscal cliff and we come up with a better plan using the base lines, not necessarily if we go over the fiscal cliff and stick with those base lines? >> the base lines are the fiscal cliff. if we go with the base line it's not ideal but it's some level of certainty. i'm not advocating it. i think it's messy and no good for anybody. indiscriminate sfesratiequestra cuts in spending,
cliff you'll see an increase by 1% in the unemployment rate which means an increase of 100 basis points in health care costs he at aetna will have to lay off people. he's putting those plans in place. >> the numbers are sliding all over the place, becky. on the other hand if corporate managers look at what else is going on in the economy, the election is behind us, we've got very accommodative monetary policy, suddenly we have some level of certainty on the fiscal situation, you could...
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Aug 29, 2012
08/12
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there's lots of uncertainty about politics, lots of uncertainty about fiscal cliff. why not just wait and do it next spring. >> and it's unlickly that interest rates are going to be any higher. you have an unemployment rate that's stayed sturn only at 8%. this is a different reality to deal with than as a 5% -- >> it really has. i look at the problems with the labor market as being the central drag on the economy. this is what the federal reserve is really focused on. >> kevin, you see that number come out and the future don't know what to do. i heard someone yesterday say -- and the market had to deal with qe3 being delayed. that's what someone said. >> it never really permanently gone or permanently on right now. they can -- it's like a carrot. they can dangle it in front of us whenever we need a little bit of a bounce and whenever we get get a bad number, we're back watching for qe3 again. >> i would say this -- the conventional wisdom here, the hope down here, is that they just get out of the markets and let's take a peek at it without them. unfortunately i don't
there's lots of uncertainty about politics, lots of uncertainty about fiscal cliff. why not just wait and do it next spring. >> and it's unlickly that interest rates are going to be any higher. you have an unemployment rate that's stayed sturn only at 8%. this is a different reality to deal with than as a 5% -- >> it really has. i look at the problems with the labor market as being the central drag on the economy. this is what the federal reserve is really focused on. >>...